Fighting tax evasion and improving transparency measures within global standards remain important for the financial services sector in the British Virgin Islands (BVI).
To achieve this, the BVI has signed up to multiple global initiatives that are outlined in this week’s BVI360° edition, Debunking the myths: Participation in global tax initiatives.
BVI Finance CEO Elise Donovan explained that the debate continues around a global minimum tax and who gets to be the final arbiter on what a country’s tax base should be.
She said, “Calls for greater tax transparency have led to major global tax initiatives to ensure that companies and individuals pay their fair share of taxes. This edition in the BVI360°series seeks to correct the inaccuracy in which the BVI is often referred to as a tax haven when it is, in fact, one of the most tax transparent jurisdictions in the world because of all the global tax initiatives it has signed on to over the last 20 years.”
BVI Finance launched the BVI360 series to showcase the full picture of the BVI’s financial services industry bringing to the fore, the expertise, talent, and evolution of the BVI as a resilient financial centre, being able to adjust to regulatory changes and being able to rebound from economic challenges, natural disasters, and global pandemics.
BVI Finance commissioned the BVI360 series from the UK-based Pragmatic Advisory, an independent strategy and economics research consultancy firm based in the UK.
Earlier reports, Global BVI Contributing to the World Economy,Resilient BVI: Global Pandemic and Global BVI: Enforcing International Sanctionsare available here.
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